Diagnostic companies are expected to be aided by a surge in COVID-19 testing, as well as a favourable base.
COVID-19 testing, for example, rose from 1,500 to 2,000 tests per day to around 10,000-12,000 tests per day at its peak during the second wave.
Dr Lal PathLabs is estimated to grow around 70 percent year on year (YoY) and 4-5 percent quarter on quarter (QoQ) led by COVID-19 and allied testing, which would probably show up to 11 percent YoY growth. Non-COVID-19 testing should be aided by a favourable base as well.
Watch the accompanying video of CNBC-TV18’s Ekta Batra for more details.